Here is some good news for the power sector in the state. At a time when the TRS government is facing problems in supplying uninterrupted power and envisaged several projects to augment power generation in the next few years, the Power Finance Corporation (PFC) has agreed to extend `15,000 crore towards setting up thermal power projects in the State.

PFC CMD MK Goyel and TS GENCO CMD D Prabhakar Rao signed a memorandum of understanding (MoU) for the same in the presence of Chief Minister K Chandrasekhar Rao here Sunday. The amount is meant for setting up 1080 MW Bhadradri power plant in Manuguru of Khammam district and 4,400 MW power plant in Dhamaracherla of Nalgonda district. On the request of the Chief Minister, the PFC has also agreed to decrease the interest rate on debt from 12 per cent to 11.5.